Egypt’s trade deficit hit $4.15B in March

CAIRO – 12 June 2019: Egypt’s trade deficit increased 10.1 percent during March 2019, recording $4.15 billion, compared to $3.77 billion in the same month of 2018, according to the state's statistics agency CAPMAS.

In its monthly bulletin on foreign trade data, CAPMAS said that exports declined 3.9 percent to reach $2.58 billion in March 2019, compared to $2.68 billion during the same month of 2018.

The bulletin attributed the increase of exports to the drop in the exports of ready-made clothes by 0.4 percent, crude oil by 7.3 percent, fresh orange by 55.4 percent, and potatoes by 1.1 percent.

Meanwhile, exports of some other commodities saw an increase in March such as petroleum products which decreased by 201.5 percent, plastic by 45.5 percent, fertilizers by 2.7 percent and dairy products by 2.7 percent.

As per imports, the bulletin showed an increase of 4.3 percent to hit $6.73 billion in March of the current year, compared to $6.45 billion in March 2018.

CAPMAS ascribed this increase to the rise in imports of plastic by 14.3 percent, organic and non-organic chemicals by 29.8 percent, wheat by 18.7 percent and meat by 5 percent.

On the other hand, imports of other commodities showed a drop such as petroleum products by 3.1 percent, raw materials of iron or steel by 8.1 percent, motor vehicles by 5.1 percent, pharmaceuticals and pharmaceutical preparations by 1.3 percent.

In February, Egypt’s trade deficit dipped 2.7 percent, recording $3.63 billion, compared to $3.72 billion in the same month of 2018.